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28 September 2021

Ray Dalio Doesn’t Understand Bitcoin

Ray Dalio Doesn’t Understand Bitcoin


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Ray Dalio owns some Bitcoin, but in an interview with CNBC on Wednesday he demonstrated that he still doesn’t understand it or believe it to be a superior store of value to gold.

Ray Dalio, co-chief investment officer of Bridgewater Associates, one of the world’s largest hedge funds, owns some Bitcoin, but in an interview with CNBC on Wednesday he demonstrated that he still doesn’t understand or believe in it as a superior store of value to gold.

While regulations for Bitcoin will surely develop in the coming years, and popular on-ramps and off-ramps to investing may have to tighten their restrictions or close altogether in some regions, it is impossible to stop Bitcoin transactions.

During the interview, Dalio also said that Bitcoin doesn’t have intrinsic value.

“There are so many things in a historical perspective that didn’t have intrinsic value and had perceived value.

Nonetheless, lack of knowledge has not prevented the billionaire investor from buying Bitcoin as a hedge against inflation, which would indicate that he does understand that Bitcoin is one, if not the best store of value across space, time, and scale.

Still, the investor has made it abundantly clear that he believes gold is a better store of value.

One explanation for Dalio holding gold over Bitcoin as a store of value is a misguided belief that Bitcoin will be simply outlawed by the U.S.

For now, Dalio just doesn’t see Bitcoin as a store of value, which is arguably its strongest and one of its most obvious virtues:

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